USDT0 Launches on Arbitrum With 1:1 Backing, Faster Transfers

Tether has upgraded its USDT stablecoin on Arbitrum to USDT0, a cross-chain compatible asset backed 1:1 by Ethereum-based USDT reserves. Tether Transitions Arbitrum USDT to USDT0 Tether says the upgrade automatically converts existing Arbitrum USDT holdings to USDT0 without requiring user action. USDT0 will serve as Arbitrum’s canonical stablecoin, maintaining the same contract address. Transfers […]

source https://news.bitcoin.com/usdt0-launches-on-arbitrum-with-11-backing-faster-transfers/